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ppanth
Returning Member

My 1098-t box 1 is empty

There is a bill of 2065.65 which hasn't been paid yet but this is the information I received. 
Do I need to file this?
Screen Shot 2020-07-13 at 11.44.29 PM.pngScreen Shot 2020-07-13 at 11.42.40 PM.png

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1 Reply
Hal_Al
Level 15

My 1098-t box 1 is empty

Q.Do I need to file this 1098-T?

A.  Simple answer: No. If box 1 AND box 5 are blank, you most likely have nothing to report. 

 

The 1098-T is only an informational document. The numbers on it are not required to be entered onto your tax return. However receipt of a 1098-T frequently means you are either eligible for a tuition credit or deduction or possibly your student has taxable scholarship income. You claim the tuition credit, or report scholarship income, based on your own financial records, not the 1098-T.

 

Q. There is a bill of 2065.65 which hasn't been paid yet. Will I be able to claim it when I pay it?

A. Probably not. If the bill is for 2019 tuition and you don't pay it until 2020, you may not claim a tuition credit on either your 2019 or 2020 tax returns.  Tuition must be paid in the year of the courses, with one exception; you may pay for the Spring 2020 term in 2019.

 

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